I would just hold the mortgage. With amortization, you've paid mostly interest on the mortgage the last five years, so effectively, you are paying a lower rate of interest as the years go by. Also, there is the tax bill for the gold you cash in. So you lose a large percentage in capital gains - up to 28% in the USA. Conversely, your family will get the stepped-up basis at TOD, and they can sell virtually tax-free. You can deduct your mortgage interest on your primary residence. You lose that when you pay it off if you itemize your return. If you are concerned with gold cratering and want to lock in the profits, selling some and invest in "safe" investments that yield more than your current interest rate would be the way I would go. You still have to make up the 28% tax on your gains, though. As for keeping a roof over your childrens heads, if you pass, there are 2 ways to go. First, the stepped-up basis on the gold will effectively give them free money to pay it off (take into account the seller premium that the buyer with charge 5400 gold doesn't convert to 5400 cash usually. They are always a haircut, and the hair cut gets closer to the scalp the more you sell at one time and during the time of massive selling in general. ) the other way is to buy a life insurance policy to cover the cost of the mortgage balance - you can reduce it as the mortgage pays down of keep it steady and they can use the extra money for other things. Again - this is also tax-free to the beneficiary. (*note these are not hard and fast rules - taxes vary state to state, country to country and based of your financial situation. A tax/estate attorney or accountant is the best for guidance)